Energy Shocks and Macroeconomic Stabilization Policies in an Agent-based Macro Model

van der Hoog S, Deissenberg C (2010)
In: Computational Methods in Economic Dynamics. Dawid H, Semmler W (Eds); Dynamic Modeling and Econometrics in Economics and Finance, 13. Berlin: Springer: 159-181.

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Dawid, Herbert ; Semmler, Willi
Abstract
In this chapter we consider the effects of exogenous energy shocks on an agent-based macroeconomic system and study the out-of-equilibrium dynamics. We introduce automatic stabilizers that allow the artificial economy to absorbe the shocks. Two types of macroeconomic stabilization policies are implemented: a consumer subsidy scheme that compensates households for their loss in purchasing power, and a tax reduction scheme that affects both households and firms to support consumption and investments. Policy experiments are then carried out to evaluate the effectiveness of these macroeconomic policies. Finally, we are able to distinguish between short- and long-term effects of the policy measures.
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van der Hoog S, Deissenberg C. Energy Shocks and Macroeconomic Stabilization Policies in an Agent-based Macro Model. In: Dawid H, Semmler W, eds. Computational Methods in Economic Dynamics. Dynamic Modeling and Econometrics in Economics and Finance. Vol 13. Berlin: Springer; 2010: 159-181.
van der Hoog, S., & Deissenberg, C. (2010). Energy Shocks and Macroeconomic Stabilization Policies in an Agent-based Macro Model. In H. Dawid & W. Semmler (Eds.), Dynamic Modeling and Econometrics in Economics and Finance: Vol. 13. Computational Methods in Economic Dynamics (pp. 159-181). Berlin: Springer.
van der Hoog, S., and Deissenberg, C. (2010). “Energy Shocks and Macroeconomic Stabilization Policies in an Agent-based Macro Model” in Computational Methods in Economic Dynamics, Dawid, H., and Semmler, W. eds. Dynamic Modeling and Econometrics in Economics and Finance, vol. 13, (Berlin: Springer), 159-181.
van der Hoog, S., & Deissenberg, C., 2010. Energy Shocks and Macroeconomic Stabilization Policies in an Agent-based Macro Model. In H. Dawid & W. Semmler, eds. Computational Methods in Economic Dynamics. Dynamic Modeling and Econometrics in Economics and Finance. no.13 Berlin: Springer, pp. 159-181.
S. van der Hoog and C. Deissenberg, “Energy Shocks and Macroeconomic Stabilization Policies in an Agent-based Macro Model”, Computational Methods in Economic Dynamics, H. Dawid and W. Semmler, eds., Dynamic Modeling and Econometrics in Economics and Finance, vol. 13, Berlin: Springer, 2010, pp.159-181.
van der Hoog, S., Deissenberg, C.: Energy Shocks and Macroeconomic Stabilization Policies in an Agent-based Macro Model. In: Dawid, H. and Semmler, W. (eds.) Computational Methods in Economic Dynamics. Dynamic Modeling and Econometrics in Economics and Finance. 13, p. 159-181. Springer, Berlin (2010).
van der Hoog, Sander, and Deissenberg, Christophe. “Energy Shocks and Macroeconomic Stabilization Policies in an Agent-based Macro Model”. Computational Methods in Economic Dynamics. Ed. Herbert Dawid and Willi Semmler. Berlin: Springer, 2010.Vol. 13. Dynamic Modeling and Econometrics in Economics and Finance. 159-181.
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